The power of creative destruction.

Summary Creative destruction is the process by which new innovations constantly make existing technologies and activities obsolete. It is the process by which newly created jobs constantly replace existing ones. This book invites the reader to rethink the history and puzzles of growth through the prism of creative destruction and to challenge many of the conventional wisdom. Why technological revolutions and automation create more jobs than they destroy. Why competition and industrial policy are not mutually exclusive. Why taxes are not the only way to make growth fairer. Why growth is not correctly measured. Why secular stagnation is not inevitable. Why industrialization is not an indispensable step in the development process. Why the carbon tax is not the only lever for greener growth. Why, with appropriate public policies, creative destruction does not harm health and happiness. Why innovation needs the market, the state, but also the active intervention of civil society. The Power of Creative Destruction is both an exploration of the roots of economic prosperity and a guide to thinking about the future of capitalism.